The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-09-03
FACTS OF A YEARS TRADE
A VERY SATISFACTORY SHOWING
FOR SAVANNAH.
While Depression Existed in Some
Branches, Others Were Much More
Prosperous Than for Several Years
Bright Prospects for the Future
OFFICE OF THE MORNING NEWS. /
SAVANNAH Sept , 1857 /


Bright Prospects for the Future.
OFFICE OF THE MORNING NEWS /
SAVANNAH, Sept. ,, 1887 :
The year that closed on Aug. 81 was, all things
considered, very satisfactory one for Savan
nah. In some branches of the citys business
there was little depression, but other branches
were so much more prosperous than for severa
previous years that the depression mentioned
was hardly noticed The report received from
the merchants is that collections We're excellent
and that very little money was lost. Indeed
the testimony is that the planters and country
merchants met their obligations more promptly
and fully than in any one of the prior ten years,
When obligations are paid there are good rea-
sons for thinking that business is good, and that
prosperity is quite general.
The cotton receipts were not quite up to those
of the previous year, but the prices OH
tanned were better. The planter. there
fore was better off than if his crop had been
larger and the prices lower. 1t is worthy of
notice that although the belief is quite general
that the factorage business will eventually de
sert all the ports, the percentage of the cotton
received that was handled by Savannah factors
was fully as large as the percentage of the pre-
vious year. In the matter of sea island cotton,
it begins 10 look as if this city would soon CON
tfOl tDo WnOle ptOuucIloH. Fuliy - per cbIt.
more was received last year than the year be-
fore.
Naval stores factors and manufacturers had a
right to complain. The production was i'm
mense, but the prices were very low. It is
probable that the proposition to produce less in
order to control prices, was not needed and
that the producers made about all they could.
The lumber men did fine business II may
be that the volume of the business was not
quite as great as in some previous years, but
there was a good demand, and when the demand
is good the prices are pretty certain to be good
There was a good deal of rice marketed, and
very good rice it was. The planters could not
complain of the yield, but they did growl at the
prices. Louisiana and foreign rice played havoc
with the prices. However, the rice marketed
here is so much better than the foreign or
Louisiana rice that prices hold up better under
the circumstances than might be expected.
Savannahs wholesale business has been boom
ing for several years. and it doomed a great deal
last year. Her merchants are reaching out
after new territory, and are showing remark
able grit and enterprise. The dry goods trade
was better than ever before, and as for the
grocery trade it is safe to say that its improve
ment was extraordinary
The review of the years business is calculated
TO leave good impression upon the minds of
those interested in the citys prosperity. There
was great deal of building. and the rise of the
prices of real estate in the new residence por-
ton of the city was steady and healthy.
The city grew last year great deal
in every way, and it promises to continue
10 grow. The public health in each month of
the year under review was good and, in fact,
ever since the work of draining the city began
there has been steady improvement in its
health. With prosperous business year just
closed, and a season just opening that is full of
promise, there is no reason why Savannah
shouldn't wear a smiling face.
FINANCIAL
So far as the prosperity of our merchants is
concerned, and the increased earnings of our
banks, the financial condition of the State OF
Georgia is better than it was twelve months
ago. But State city and railway bonds are all
on lower level of prices; this, however, is not
bad sign; on the contrary it shows that all
classes of business men are finding employment
for their capital in legitimate enterprises, and
thus they neglect this class of securities AS
the volume of business increases securities are
sold to raise money to meet these wants, and
as the sales increase, bonds decline.
City bonds do not hold their own as COM
pared with last year, and yet Savannah's credit
was never better, nor her financial condition
more healthy So it is with the railroads
throughout the State; their earnings were never
larger, or their future physical well-being more
assured, yet their bonds and debentures are all
purchasable at lower prices, although no one
denies that the securities of this kind are
stronger than they were in 1886. AS an evidence
of this the capital stocks of all these roads sell
for more than they did twelve months ago
H.. g 4.
proved, and their last annual reports. without
exception, show large earnings and increased
reserves. So that they will have larger avail
able capital to lend the business community
and. when we add to this the banking capital of
the Central Railroad Bank and of the ogle-
thorpe Savings and Trust Company, it will be
seen that the loanable funds available are much
larger than ever before. Thus our merchants
are warranted IN extending their business with.
out fear of n squeeze in the money market.
The combined capital and reserve of our
banks will amount to some So, 700, 900 (324 million
dollars), as follows:
Capital. Reserve.
Southern Bank Of the State
OF Georgia ..........S 100000 S525. 900
Merchants National Bank 100000 10000
Savannah Bank and Trust Co. 100000 ~
National Bank of Savannah 250OOO 10000
Citizens Mutual Loan Asso-
OglethoIpe Savings and Trust
Central L. r. Bank funds to '''' WV
lena .........-.............. l,OU,OOO .......
Below is given tabular statement of the
comparison of prices Of securities for 1885 and
1857:
1886. 1887.
Bid. asked Bid. asked
State of Georgia per
cent. bonds due in
1896. .......;.....; 12i 1876 100 19l
State of Georgia gold
quarterlies due in
1890. ....,....;. III l12 1o5 1o7
State of Georgia ~
per cent. new bonds %. 90. 104lS l0olS
City of Savannah per
cent. bonds ......... 1884 104 10. 100
City of Atlanta per
cent. bonds ........ 10 112 100 ITO
City OF Atlanta per
cent: bonds. -. 11s 30 1l6 100
City of Augusta per
cent: bonds; -. 1ls us 100 iis
City of Columbus per
cent. bonds. 1O1 1903 1903 1914
City of Macon q per
cent. bonds. ....... 100 III Ill liz
Savannah. Florida and
Western Ry. per
cent. bonds ... 100 III I1G lis
Central X. r. & Bank
ing Co. joint mort
gage per cent. ll31S ia 40 Ill